Zenitas Healthcare completes Allied Care Group settlement

Company News

by Rachael Jones

Following the announcement on 17 September 2018, Zenitas Healthcare (ASX:ZNT) is pleased to announce that settlement of the acquisition of Allied Care Group has been completed.

The acquisition price was $2.25 million plus transaction costs for 100 per cent of Allied Care Group funded from existing debt facilities.

Allied Care Group achieved FY18 revenue of $2.8 million and EBITDA of $0.5 million.

Zenitas is a community-based healthcare operator providing integrated care solutions that are primarily aimed at reducing the reliance on high cost acute and post-acute institutional care.

Shares in Zenitas Healthcare (ASX:ZNT) closed 0.71 per cent higher to $1.415 yesterday.

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